Leopold, Missouri Property Taxes
The median property tax rate in Leopold, MO is 1.00%, slightly higher than the national median of 0.99% but lower than the Missouri state median of 1.20%. With the median home value in Leopold at $25,259, the typical annual property tax bill is around $254, which is significantly below the national median of $2,690. Property taxes in Leopold are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Leopold's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Leopold or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leopold, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$253
Ownwell’s Leopold Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leopold with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leopold to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Leopold, Missouri
Property taxes in Leopold, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leopold is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Leopold set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leopold estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Leopold's effective property tax rate to other areas in Missouri and the national median. For comparison, the 63760 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Leopold provides valuable insights into the varying tax landscape across Cape Girardeau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leopold Tax Rate
1.00%
Average Cape Girardeau County Tax Rate
0.97%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leopold, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63760 | 0.95% | 0.97% | 1.00% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Leopold, Missouri
In Leopold, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Cape Girardeau County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Leopold, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest median tax bill in Leopold is $254, while the lowest is also $254, both in the 63760 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leopold Assessed Value
$25,259
Average Cape Girardeau County Assessed Value
$116,512
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leopold, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63760 | $14,349 | $18,440 | $25,259 | $153,264 | $230,068 |
Source: Ownwell
Property Tax Bills Across Leopold, Missouri
In Leopold, located in Cape Girardeau County, MO, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is a percentage of the home's market value, which is determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. For example, the median home price in Leopold is $25,259. Property tax bills in the area can vary significantly, with the 25th percentile at $185 and the 75th percentile at $1,451. The 90th percentile tax bill can go up to $2,169, reflecting the higher value homes in the region. These property tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the rates in Leopold can be relatively moderate, offering some relief to homeowners in the area.
Average Leopold Tax Bill
$254
Average Cape Girardeau County Tax Bill
$1,109
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Leopold, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 63760 | $144 | $185 | $254 | $1,451 | $2,169 |
Source: Ownwell